January typically has the lowest number of sales for any month during any year and usually by a pretty noticeable amount. If that holds true again this year then we are probably going to see a very strong year. This January’s sales were not only higher than any January in the past 11 years, it was up over last January’s by about 15% even those last January’s sales were the highest in the last 10 years up to that point!
Not surprisingly then the inventory level last month was the lowest in 11 years and was the first time we started the year with less than 4 months of inventory. That means we are most likely going to see another year of low inventory with strong buyer demand and prices continuing to rise.
This can be a very tricky and difficult market to enter either as a seller or a buyer, so if you want advice on how to approach this market the right way, either as a buyer or seller, please don’t hesitate to call me at 727-687-1160 or email me at firstname.lastname@example.org.
Here are the sales and inventory graphs so you can see what I mean:
(Information for the charts was taken from PRO/Suncoast MLS from Jan 2007 thru May 2011 & from the MFRMLS for May 2011 thru January 2017. This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.)